Looking to diversify beyond DODIX? The mutual funds below have the lowest correlation with DODIX — they tend to move on their own, which can help reduce risk when the rest of your portfolio drops. The stock ideas table highlights individual companies that behave independently from DODIX.
Best Diversifiers for DODIX
44 mutual funds have low correlation with DODIX (below 0.3), 1 of which are negatively correlated. The least correlated is Fidelity Floating Rate High Income Fund (FFRHX) (Bank Loan) with a 1Y correlation of -0.00, down from 0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Category | Compare |
|---|---|---|---|---|---|---|---|
| Fidelity Floating Rate High Income Fund | -0.00 | 0.04 | 0.11 | 92 | Bank Loan | DODIX vs FFRHX | |
| Cliffwater Corporate Lending Fund | 0.01 | 0.03 | 0.04 | 100 | High Yield Bonds | DODIX vs CCLFX | |
| AQR Long-Short Equity Fund | 0.09 | -0.03 | -0.09 | 53 | Long-Short | DODIX vs QLEIX | |
| Fidelity Conservative Income Bond Institutional Cl... | 0.09 | 0.25 | 0.26 | 99 | Total Bond Market | DODIX vs FCNVX | |
| Fidelity Flex Conservative Income Bond Fund | 0.11 | 0.18 | 0.22 | 99 | Total Bond Market | DODIX vs FJTDX |
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Low-Correlation Stock Ideas
If you're looking for individual stocks that move independently from DODIX, these are worth exploring. The table shows U.S. companies ($1B+ market cap) with low correlation to DODIX and solid risk/return profiles. The least correlated is ConocoPhillips Company (COP) (Energy) with a 1Y correlation of -0.30, down from -0.11 over 5 years.
| Symbol | Name | Correlation 1Y | Correlation 3Y | Correlation 5Y | Risk / Return Rank | Sector |
|---|---|---|---|---|---|---|
| ConocoPhillips Company | -0.30 | -0.11 | -0.11 | 61 | Energy | |
| Chevron Corporation | -0.25 | -0.07 | -0.09 | 68 | Energy | |
| Exxon Mobil Corporation | -0.23 | -0.07 | -0.07 | 68 | Energy | |
| BP p.l.c. | -0.21 | -0.07 | -0.08 | 76 | Energy | |
| Energy Transfer LP | -0.20 | -0.03 | -0.03 | 67 | Energy |
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Build a portfolio that complements DODIX
Add DODIX to the Diversification Analyzer to see how it overlaps with your other holdings and which assets balance it best.
Analyze a portfolio with DODIX